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Latest news and features from theguardian.com, the world's leading liberal voiceen-gbGuardian News and Media Limited or its affiliated companies. All rights reserved. 2017Thu, 14 Dec 2017 03:48:04 GMT2017-12-14T03:48:04Zen-gbGuardian News and Media Limited or its affiliated companies. All rights reserved. 2017The Guardianhttps://assets.guim.co.uk/images/guardian-logo-rss.c45beb1bafa34b347ac333af2e6fe23f.pnghttps://www.theguardian.com
Westfield sale looks like a knee-jerk reaction to the Amazon age | Nils Pratleyhttps://www.theguardian.com/business/nils-pratley-on-finance/2017/dec/12/westfield-sale-amazon-shopping-centres
<p>The rush to consolidate by owners of large shopping centres suggests they are seeking protection from the rise of online rivals</p><p>The crisis of confidence among owners of large shopping centres is contagious. Last week it was Hammerson, the Birmingham Bullring folk, <a href="https://www.theguardian.com/business/2017/dec/06/hammerson-snaps-up-shopping-mall-rival-to-become-uks-top-property-firm">bidding for Intu</a>, owner of Gateshead’s Metrocentre. </p><p>Now, on grander scale, French giant Unibail-Rodamco <a href="https://www.theguardian.com/business/2017/dec/12/europes-biggest-property-firm-snaps-up-westfield-lowy-unibail-rodamco">is paying $25bn (£18.5bn) to own Westfield</a>, the Australian outfit that has erected its multistorey car parks, with malls attached, in east and west London.</p><p> <span>Related: </span><a href="https://www.theguardian.com/business/2017/dec/12/europes-biggest-property-firm-snaps-up-westfield-lowy-unibail-rodamco">Europe's biggest mall owner buys Westfield for $25bn</a> </p><p> <span>Related: </span><a href="https://www.theguardian.com/commentisfree/2017/nov/07/big-meat-big-dairy-carbon-emmissions-exxon-mobil">Big Meat and Big Dairy's climate emissions put Exxon Mobil to shame | Juliette Majot and Devlin Kuyek</a> </p> <a href="https://www.theguardian.com/business/nils-pratley-on-finance/2017/dec/12/westfield-sale-amazon-shopping-centres">Continue reading...</a>Commercial propertyReal estateRetail industryBusinessLondonUK newsClimate changeEnvironmentSocial careSocietyTue, 12 Dec 2017 19:32:53 GMThttp://www.theguardian.com/business/nils-pratley-on-finance/2017/dec/12/westfield-sale-amazon-shopping-centresPhotograph: Suzanne Plunkett/ReutersPhotograph: Suzanne Plunkett/ReutersNils Pratley Financial editor2017-12-12T19:32:53ZEurope's biggest mall owner buys Westfield for $25bnhttps://www.theguardian.com/business/2017/dec/12/europes-biggest-property-firm-snaps-up-westfield-lowy-unibail-rodamco
<p>France’s Unibail-Rodamco to become world’s largest shopping centre operator after snapping up Australian company</p><p>Europe’s biggest commercial property company is to buy Westfield, the Australian company behind the UK’s two highest-earning shopping centres, in a $25bn (£19bn) deal that will create the world’s largest mall operator.</p><p>Unibail-Rodamco of France, which <a draggable="true" href="http://www.unibail-rodamco.com/W/do/centre/shopping-centres.html">owns Forum des Halles in Paris</a>, plans to roll out Westfield centres in Europe and the US. The Lowy family, Westfield’s biggest shareholder, is selling its 9.5% stake for a mixture of cash and Unibail shares.</p> <a href="https://www.theguardian.com/business/2017/dec/12/europes-biggest-property-firm-snaps-up-westfield-lowy-unibail-rodamco">Continue reading...</a>Commercial propertyReal estateBusinessRetail industryUK newsEuropeAustralia newsWorld newsFranceTue, 12 Dec 2017 17:33:42 GMThttp://www.theguardian.com/business/2017/dec/12/europes-biggest-property-firm-snaps-up-westfield-lowy-unibail-rodamcoPhotograph: Anthony Devlin/PAPhotograph: Anthony Devlin/PAJulia Kollewe and Sarah Butler2017-12-12T17:33:42ZWestfield sold: Frank Lowy agrees to $33bn takeover dealhttps://www.theguardian.com/business/2017/dec/12/westfield-sold-frank-lowy-agrees-to-33bn-takeover-deal
<p>Lowy to retire as chairman under takeover of non-Australian and New Zealand assets by European property giant Unibail-Rodamco, while sons stay on</p><p>Frank Lowy’s Westfield Corporation has agreed to a takeover from European property giant Unibail-Rodamco in a deal worth $33bn.</p><p>Lowy, Westfield’s chairman, and his sons Steven and Peter, who are co-chief executives, will vote in favour of the deal, which values each Westfield security at $10.01, a premium of 17.8% to the value of Westfield securities at the end of Monday’s trading session.</p><p> <span>Related: </span><a href="https://www.theguardian.com/australia-news/2017/mar/21/forbes-billionaire-list-gina-rineharts-fortune-doubles-as-shopkins-toymaker-joins-club">Australian toymaker joins Forbes billionaires list thanks to Shopkins craze</a> </p> <a href="https://www.theguardian.com/business/2017/dec/12/westfield-sold-frank-lowy-agrees-to-33bn-takeover-deal">Continue reading...</a>WestfieldBusiness (Australia)Frank LowyAustralia newsRetail industryBusinessCommercial propertyReal estateTue, 12 Dec 2017 07:31:57 GMThttp://www.theguardian.com/business/2017/dec/12/westfield-sold-frank-lowy-agrees-to-33bn-takeover-dealPhotograph: David Moir/AAPPhotograph: David Moir/AAPAustralian Associated Press2017-12-12T07:31:57ZBritish pubs under threat from new 'eye-watering' business rateshttps://www.theguardian.com/lifeandstyle/2017/sep/14/british-pubs-under-threat-eye-watering-business-rates-camra
<p>Campaign for Real Ale says business rates revaluation is ‘ticking time bomb’ as some pubs face paying thousands more a month</p><p>The great British boozer is under threat as a result of spiralling business rates, according to a campaign group which warns they are a “ticking time bomb” which could devastate the sector. </p><p>The <a href="http://www.camra.org.uk/">Campaign for Real Ale (Camra)</a> is calling for an annual £5,000 reduction in business rates for <a href="https://www.theguardian.com/lifeandstyle/pubs">every pub</a> across England, after revealing that since the early 1970s nearly 30,000 pubs have called “last orders” and closed their doors for good.</p> <a href="https://www.theguardian.com/lifeandstyle/2017/sep/14/british-pubs-under-threat-eye-watering-business-rates-camra">Continue reading...</a>PubsConsumer affairsCommercial propertyBusinessTravel & leisureFood & drinkLife and styleMoneyThu, 14 Sep 2017 05:01:33 GMThttp://www.theguardian.com/lifeandstyle/2017/sep/14/british-pubs-under-threat-eye-watering-business-rates-camraPhotograph: mikedabell/Getty Images/iStockphotoPhotograph: mikedabell/Getty Images/iStockphotoRebecca Smithers Consumer affairs correspondent2017-09-14T05:01:33ZChina's Dalian Wanda drops purchase of Nine Elms Square in Londonhttps://www.theguardian.com/business/2017/aug/22/chinas-dalian-wanda-drops-purchase-nine-elms-square-london
<p>After Beijing clampdown on overseas investment, site is sold with permission for 1,900 flats to R&amp;F Properties and C C Land</p><p>China’s largest commercial property company has pulled out of a £470m purchase of Nine Elms Square in south-west London after pressure from regulators in Beijing over its overseas investments.</p><p>A joint venture between St Modwen Properties and construction firm Vinci had exchanged contracts to sell the 4-hectare (10-acre) site, previously home to the New Covent Garden flower market, to Dalian Wanda’s Hong Kong division in June. </p><p> <span>Related: </span><a href="https://www.theguardian.com/uk-news/2017/aug/18/global-super-rich-agreeing-to-rent-luxury-london-homes-without-visiting">Global super-rich agreeing to rent luxury London homes without visiting</a> </p> <a href="https://www.theguardian.com/business/2017/aug/22/chinas-dalian-wanda-drops-purchase-nine-elms-square-london">Continue reading...</a>Real estateLondonUK newsBusinessConstruction industryCommercial propertyTue, 22 Aug 2017 08:38:07 GMThttp://www.theguardian.com/business/2017/aug/22/chinas-dalian-wanda-drops-purchase-nine-elms-square-londonPhotograph: http://www.newcoventgardensites.com/Photograph: http://www.newcoventgardensites.com/Julia Kollewe2017-08-22T08:38:07ZBNP Paribas to expand further into UK property business with mergerhttps://www.theguardian.com/business/2017/jul/31/bnp-paribas-uk-property-business-merger-strutt-and-parker-bank-real-estate
<p>Acquisition of property services firm Strutt &amp; Parker will triple revenue and staff in Britain of banking group’s real estate arm</p><p>The real estate arm of the banking giant BNP Paribas is to acquire a UK property services group in a deal that will triple its revenue and the number of staff it has in the country covering the business.</p><p> The deal to merge the UK subsidiary of BNP Paribas Real Estate with Strutt &amp; Parker, founded in London in 1885, will be completed in September. It comes even after global banks have said they could move thousands of jobs out of Britain to prepare for Brexit.</p> <a href="https://www.theguardian.com/business/2017/jul/31/bnp-paribas-uk-property-business-merger-strutt-and-parker-bank-real-estate">Continue reading...</a>BNP ParibasMergers and acquisitionsReal estateCommercial propertyEuropean banksBusinessUK newsMon, 31 Jul 2017 19:09:18 GMThttp://www.theguardian.com/business/2017/jul/31/bnp-paribas-uk-property-business-merger-strutt-and-parker-bank-real-estatePhotograph: Eric Piermont/AFP/Getty ImagesPhotograph: Eric Piermont/AFP/Getty ImagesReuters2017-07-31T19:09:18ZWalkie Talkie tower: stark reminder of forces that rule the Cityhttps://www.theguardian.com/business/2017/jul/27/walkie-talkie-tower-stark-reminder-of-forces-that-rule-the-city
<p>Rafael Viñoly’s controversial tower is news again, this time due to its record-breaking £1.3bn sale price – 167% profit on development cost</p><p>The controversial Walkie Talkie tower in the City of London has commanded a record-breaking price for a single building in the UK – £1.3bn in a sale to a Hong Kong manufacturer of oyster sauce.</p><p> <span>Related: </span><a href="https://www.theguardian.com/money/2017/jul/27/londons-walkie-talkie-building-sold-for-record-breaking-13bn">London's Walkie Talkie building sold for record-breaking £1.3bn</a> </p><p> <span>Related: </span><a href="https://www.theguardian.com/artanddesign/2015/dec/11/city-of-london-skyline-of-tomorrow-interactive">'A tortured heap of towers': the London skyline of tomorrow</a> </p> <a href="https://www.theguardian.com/business/2017/jul/27/walkie-talkie-tower-stark-reminder-of-forces-that-rule-the-city">Continue reading...</a>Commercial propertyReal estateLondonBusinessUK newsThu, 27 Jul 2017 16:56:30 GMThttp://www.theguardian.com/business/2017/jul/27/walkie-talkie-tower-stark-reminder-of-forces-that-rule-the-cityPhotograph: Cultura Exclusive/Leon Sosra/Getty Images/Cultura ExclusivePhotograph: Cultura Exclusive/Leon Sosra/Getty Images/Cultura ExclusiveOliver Wainwright2017-07-27T16:56:30ZLondon's Walkie Talkie building sold for record-breaking £1.3bnhttps://www.theguardian.com/money/2017/jul/27/londons-walkie-talkie-building-sold-for-record-breaking-13bn
<p>Sum paid for City skyscraper by Hong Kong food conglomerate Lee Kum Kee is highest ever for a single UK building</p><p>It damaged cars with <a href="https://www.theguardian.com/uk-news/gallery/2013/sep/04/london-walkie-talkie-building-pictures">scorching reflected sunlight</a>, has been accused of creating a wind tunnel that can topple pedestrians and has split the capital into lovers and haters. Now, London’s landmark Walkie Talkie building has broken records with its £1.3bn sale to a Hong Kong firm best known for making oyster sauce.</p><p> <span>Related: </span><a href="https://www.theguardian.com/business/2017/jul/27/walkie-talkie-tower-stark-reminder-of-forces-that-rule-the-city">Walkie Talkie tower: stark reminder of forces that rule the City</a> </p><p> <span>Related: </span><a href="https://www.theguardian.com/business/2017/jul/05/shard-apartments-empty-flats-london-market">High living, low sales: Shard apartments still empty, five years on</a> </p><p> <span>Related: </span><a href="https://www.theguardian.com/uk-news/gallery/2013/sep/04/london-walkie-talkie-building-pictures">London's Walkie-Talkie building – in pictures</a> </p> <a href="https://www.theguardian.com/money/2017/jul/27/londons-walkie-talkie-building-sold-for-record-breaking-13bn">Continue reading...</a>Commercial propertyReal estatePropertyMoneyBusinessUK newsLondonArchitectureArt and designCultureLand SecuritiesThu, 27 Jul 2017 16:22:56 GMThttp://www.theguardian.com/money/2017/jul/27/londons-walkie-talkie-building-sold-for-record-breaking-13bnPhotograph: PocholoCalapre/Getty Images/iStockphotoPhotograph: PocholoCalapre/Getty Images/iStockphotoSarah Butler2017-07-27T16:22:56ZDublin is streets ahead of EU rivals as City firms plan for Brexit relocationhttps://www.theguardian.com/business/2017/jul/15/dublin-first-choice-london-banks-brexit-relocation-plans
<p>Its shared language and links with London have made the Irish capital first choice for banks seeking new bases from which to trade in Europe</p><p>In boardrooms across London, bank executives are deciding where to move tens of thousands of jobs in the event of a hard Brexit. Rival European financial centres, including Paris, Frankfurt and Luxembourg, are vying for the business – but Dublin is emerging as the most popular destination.</p><p>Hundreds of banks, insurers, fund managers and other major City firms had until Friday to tell the <a href="https://www.theguardian.com/business/bankofenglandgovernor">Bank of England</a> how they intend to <a href="https://www.theguardian.com/business/2017/jul/08/deadline-looming-city-firms-brexit-strategies-bank-14-july">cope in the event of a hard Brexit</a>.</p> <a href="https://www.theguardian.com/business/2017/jul/15/dublin-first-choice-london-banks-brexit-relocation-plans">Continue reading...</a>BankingIrelandBrexitHousing marketFinancial sectorCommercial propertyReal estateBusinessEuropean UnionSat, 15 Jul 2017 15:00:09 GMThttp://www.theguardian.com/business/2017/jul/15/dublin-first-choice-london-banks-brexit-relocation-plansPhotograph: Design Pics Inc / Rex FeaturesPhotograph: Design Pics Inc / Rex FeaturesLisa O'Carroll and Jill Treanor2017-07-15T15:00:09ZMaxed-out consumers of concern to Bank of Englandhttps://www.theguardian.com/business/2017/jun/25/bank-of-england-financial-stability-maxed-out-consumers
Governor Mark Carney likely to use financial stability report to highlight risks from rising borrowing<p>We have heard plenty from the Bank of England’s monetary policy committee of late, with its members divided over how to set interest rates in a post-referendum Britain. The debate centres on when to raise borrowing costs from their record low and whether the economy – and squeezed consumers – can take it.</p><p>This week it will be the turn of the Bank’s financial policy committee to hold forth. Its twice-yearly financial stability report will be presented by the governor, Mark Carney, on Tuesday and he is likely to use the health check to highlight the problem of consumer debt burdens in the UK. With real incomes squeezed, households have been dipping into savings and maxing out their credit cards.</p> <a href="https://www.theguardian.com/business/2017/jun/25/bank-of-england-financial-stability-maxed-out-consumers">Continue reading...</a>Consumer spendingEconomicsBank of EnglandCommercial propertyInterest ratesBusinessBorrowing & debtMoneyFrackingMonetary policy committeeSun, 25 Jun 2017 06:00:22 GMThttp://www.theguardian.com/business/2017/jun/25/bank-of-england-financial-stability-maxed-out-consumersPhotograph: Kim Taylor (work experience)/photo by Kim TaylorPhotograph: Kim Taylor (work experience)/photo by Kim TaylorShane Hickey2017-06-25T06:00:22ZGoogle submits plans for 'landscraper' London headquartershttps://www.theguardian.com/technology/2017/jun/01/google-submits-plans-million-sq-ft-london-hq-construction-kings-cross
<p>Construction on building that is longer than the Shard is tall set to begin in King’s Cross in 2018</p><p>Google has officially submitted plans for its new 92,000-square metre “landscraper” London headquarters, with the intention of beginning construction on the building in 2018.</p><p>Designed by Bjarke Ingels Group and Heatherwick Studios, the team behind TfL’s New Bus for London and the 2012 Olympic Cauldron, the building will stand 11 storeys tall and stretch parallel to the platforms of London’s King’s Cross railway station.</p><p> <span>Related: </span><a href="https://www.theguardian.com/artanddesign/2017/jun/01/sober-look-of-heatherwick-google-landscraper-shows-it-is-trying-to-grow-up">Sober look of Google's 'landscraper' shows tech firm is trying to grow up</a> </p> <a href="https://www.theguardian.com/technology/2017/jun/01/google-submits-plans-million-sq-ft-london-hq-construction-kings-cross">Continue reading...</a>GoogleAlphabetTechnologyLondonUK newsArchitectureArt and designTechnology sectorCommercial propertyBusinessReal estateThu, 01 Jun 2017 09:15:49 GMThttp://www.theguardian.com/technology/2017/jun/01/google-submits-plans-million-sq-ft-london-hq-construction-kings-crossPhotograph: HayesDavidsonPhotograph: HayesDavidsonAlex Hern2017-06-01T09:15:49ZInside the new Battersea Power Stationhttps://www.theguardian.com/business/2017/may/13/inside-the-new-battersea-power-station
<p>First 100 residents move in to first batch of swanky flats as vast £9bn development starts to rise from the rubble at the south London landmark</p><p>Pop veteran Sting, celebrity survival expert Bear Grylls and 1,400 Apple office workers will soon be neighbours – living and working alongside each other at Battersea Power Station. </p><p><a href="https://www.theguardian.com/business/2015/feb/14/battersea-nine-elms-property-development-housing">The £9bn project to revamp the Grade II listed building</a> – more than it cost to build the stadiums and stage the 2012 London Olympics – is the centrepiece of a mile-long development of offices and apartment towers on the south bank of the Thames stretching from Vauxhall to Chelsea bridge. </p> <a href="https://www.theguardian.com/business/2017/may/13/inside-the-new-battersea-power-station">Continue reading...</a>Construction industryCommercial propertyLondonHousingHousing marketHouse pricesBusinessCommunitiesMoneyPropertyReal estateSocietyUK newsSat, 13 May 2017 07:00:41 GMThttp://www.theguardian.com/business/2017/may/13/inside-the-new-battersea-power-stationPhotograph: Battersea Power Station/PAPhotograph: Battersea Power Station/PAJulia Kollewe2017-05-13T07:00:41ZSnap election delays £300m relief package for small businesseshttps://www.theguardian.com/business/2017/apr/22/snap-election-delays-300m-relief-package-for-small-businesses
<p>Commercial property owners hit by sharp rise in rates may not receive money from support fund for several months<br></p><p>Thousands of small businesses hit hardest by the recent changes to business rates in the UK have been dealt a fresh blow after a £300m relief package promised in the budget was waylaid by the general election. </p><p>Earlier this year the government came under <a href="https://www.theguardian.com/business/2017/mar/06/budget-2017-final-plea-against-business-rates-rise">pressure to take action</a> on business rates after a revaluation of property in Britain hit the owners of shops, restaurants and pubs in parts of the country where property prices had surged. For example, a property boom in the Suffolk coastal town of Southwold <a href="https://www.theguardian.com/small-business-network/2017/feb/02/rates-revaluation-could-finish-off-high-street-warn-small-businesses">forced rateable values up by 152%</a>, with some shop owners saying the hike threatened the viability of their businesses.</p> <a href="https://www.theguardian.com/business/2017/apr/22/snap-election-delays-300m-relief-package-for-small-businesses">Continue reading...</a>Small businessCommercial propertyLocal governmentTax and spendingBusinessReal estatePoliticsSocietyUK newsSat, 22 Apr 2017 15:25:44 GMThttp://www.theguardian.com/business/2017/apr/22/snap-election-delays-300m-relief-package-for-small-businessesPhotograph: Martin Pope for the GuardianPhotograph: Martin Pope for the GuardianZoe Wood2017-04-22T15:25:44ZTesco to save £105m in business rates after property revaluationhttps://www.theguardian.com/business/2017/apr/16/tesco-to-save-105m-in-business-rates-after-property-revaluation
<p>Pressure grows on government to act protect independent shopkeepers hit hard by business rate increases</p><p>Tesco will see the business rates bill for its biggest stores fall by £105m over the next five years, highlighting another anomaly created by the controversial tax. </p><p>Earlier this year, the government came under <a href="https://www.theguardian.com/business/2017/mar/06/budget-2017-final-plea-against-business-rates-rise">pressure to take action</a> on business rates after a revaluation of property in Britain hit independent shopkeepers hard in parts of the country where property prices had surged.</p><p> <span>Related: </span><a href="https://www.theguardian.com/business/2017/apr/12/tesco-profits-1bn-growth-supermarket">Tesco shares tumble despite first UK growth in seven years</a> </p> <a href="https://www.theguardian.com/business/2017/apr/16/tesco-to-save-105m-in-business-rates-after-property-revaluation">Continue reading...</a>TescoCommercial propertyBusinessReal estateRetail industrySupermarketsUK newsSun, 16 Apr 2017 17:12:13 GMThttp://www.theguardian.com/business/2017/apr/16/tesco-to-save-105m-in-business-rates-after-property-revaluationPhotograph: Ben Stansall/AFP/Getty ImagesPhotograph: Ben Stansall/AFP/Getty ImagesZoe Wood2017-04-16T17:12:13ZTwo-thirds of BHS stores lie empty as anniversary of collapse nearshttps://www.theguardian.com/business/2017/apr/16/two-thirds-of-bhs-stores-lie-empty-as-anniversary-of-collapse-nears
<p>Only 52 of 164 stores have new tenants or deals in the offing as changing shopping habits cut demand for large premises</p><p>A year after the collapse of the department store chain BHS, more than two-thirds of its former stores still lie empty, blighting the UK’s high streets and shopping centres. </p><p>According to research by the Guardian, just 52 of BHS’s 164 stores have found new tenants or have deals on the table ahead of next week’s anniversary of the biggest high street failure since Woolworths went out of business in 2008. </p><p> <span>Related: </span><a href="https://www.theguardian.com/business/2017/apr/14/bhs-workers-share-1m-payout-over-failed-redundancy-process">BHS workers share £1m payout over failed redundancy process</a> </p><p> <span>Related: </span><a href="https://www.theguardian.com/business/2017/mar/21/sir-philip-green-refund-bhs-bhs-pensions-frank-field">Sir Philip Green 'could get £15m refund from £363m BHS payout'</a> </p> <a href="https://www.theguardian.com/business/2017/apr/16/two-thirds-of-bhs-stores-lie-empty-as-anniversary-of-collapse-nears">Continue reading...</a>BHSCommercial propertyReal estateBusinessSir Philip GreenRetail industrySun, 16 Apr 2017 15:30:44 GMThttp://www.theguardian.com/business/2017/apr/16/two-thirds-of-bhs-stores-lie-empty-as-anniversary-of-collapse-nearsPhotograph: Matthew Horwood/Getty ImagesPhotograph: Matthew Horwood/Getty ImagesZoe Wood2017-04-16T15:30:44ZThe property billboards that reveal the truth about Britain’s luxury housing markethttps://www.theguardian.com/business/2017/apr/04/the-property-billboards-that-reveal-the-truth-about-britains-luxury-housing-market
<p>The glossy advertising around high-end building sites in major cities show expensive developments bustling with white thirtysomethings. Who are they aimed at, exactly?</p><p>‘We don’t do ordinary,” declares the billboard at the entrance to the Battersea power station building site in London, where cranes are busy conjuring up a new world of 3,500 homes, 150 shops and 15,000 jobs from the mud. After standing derelict for decades, Giles Gilbert Scott’s majestic temple to electricity will soon be surrounded by a forest of luxury apartment blocks, some in the shape of <a href="https://www.theguardian.com/artanddesign/2014/apr/07/architect-frank-gehry-buildings-england-london-battersea">thrashing metallic flowers by Frank Gehry</a>, another like a <a href="https://www.batterseapowerstation.co.uk/#!/go/view/app/global-launch?view=roof-gardens">writhing glass snake by Norman Foster</a>, all clustered around <a href="https://www.theguardian.com/artanddesign/2014/nov/13/danish-architect-bjarke-ingels-battersea-power-station">a plunging piazza by Bjarke Ingels</a>. It is a heady cocktail of competing forms and egos that will make the gargantuan brick cathedral seem almost humble in comparison.</p><p>It is true that the developers of Europe’s largest regeneration project don’t appear to do ordinary. But they don’t seem to do many black people either. In the computer-generated visions emblazoned across the site hoardings, the bustling cafe-lined streets are inhabited by an almost entirely monocultural society of white thirtysomethings. Women with long blond hair and shopping bags, occasionally accessorised with prams, fill the foreground of a scene drenched with that scorching Miami sunshine so familiar to this part of Britain’s capital. “New exciting concept coming soon,” coos another billboard over a vacant shopfront where this tableau is intended to unfold. The new real-estate concept of ethnic cleansing.</p><p> <span>Related: </span><a href="https://www.theguardian.com/society/2017/mar/27/dog-kennel-flats-barnet-house-smaller-than-travelodge-room">'Dog kennel' flats in Barnet will be 40% smaller than Travelodge room</a> </p> <a href="https://www.theguardian.com/business/2017/apr/04/the-property-billboards-that-reveal-the-truth-about-britains-luxury-housing-market">Continue reading...</a>Housing marketPropertyArchitectureLondonCommercial propertyHousingCitiesMoneyTue, 04 Apr 2017 15:12:38 GMThttp://www.theguardian.com/business/2017/apr/04/the-property-billboards-that-reveal-the-truth-about-britains-luxury-housing-marketPhotograph: Martin Godwin for the GuardianPhotograph: Martin Godwin for the GuardianOliver Wainwright2017-04-04T15:12:38ZSave London's high streets from business rate hike, says mayorhttps://www.theguardian.com/business/2017/mar/20/sadiq-khan-london-mayor-high-streets-shops-under-threat-business-rates
<p>Sadiq Khan fears loss of vibrant and diverse character if family-run and independent shops are forced to close</p><p>Independent and family-run businesses could be forced off London’s high streets by the sharp rise in business rates that will come into force from April, spoiling the character of local communities, <a href="https://www.theguardian.com/profile/sadiqkhan">Sadiq Khan</a> has warned.</p><p>The mayor of London said businesses in the capital faced a “clear and present risk” from the tax and accused the government of not doing enough to help.</p> <a href="https://www.theguardian.com/business/2017/mar/20/sadiq-khan-london-mayor-high-streets-shops-under-threat-business-rates">Continue reading...</a>Commercial propertySmall businessLondonRetail industryTax and spendingLocal governmentBusinessCitiesMoneyPoliticsSocietyUK newsPhilip HammondReal estateTue, 21 Mar 2017 12:43:49 GMThttp://www.theguardian.com/business/2017/mar/20/sadiq-khan-london-mayor-high-streets-shops-under-threat-business-ratesPhotograph: Alamy Stock PhotoPhotograph: Alamy Stock PhotoGraham Ruddick2017-03-21T12:43:49ZBudget help for pubs only a 'stay of execution', says MPhttps://www.theguardian.com/business/2017/mar/13/budget-pubs-philip-hammond-business-rates-discount
<p>Philip Hammond may have overstated how many pubs will qualify for business rates discount, says Labour’s Jim McMahon</p><p>The government’s pledge to protect England’s pubs by giving them a £1,000 business rates discount has been described as a “stay of execution” rather than long-term support by a Labour MP, as new industry estimates suggested thousands of businesses would get no help at all. </p><p>Jim McMahon said it was welcome that chancellor Philip Hammond had shown some recognition of the pressures on pubs in last week’s budget when he announced those with a rateable value of less than £100,000 <a href="https://www.gov.uk/government/news/spring-budget-2017-21-things-you-need-to-know">would receive a £1,000 discount on their business rates bill this year</a>. <br></p><p> <span>Related: </span><a href="https://www.theguardian.com/business/2017/mar/09/philip-hammond-criticised-for-exaggerating-pub-relief-scheme">Philip Hammond criticised for exaggerating pub relief scheme</a> </p> <a href="https://www.theguardian.com/business/2017/mar/13/budget-pubs-philip-hammond-business-rates-discount">Continue reading...</a>Commercial propertyBusinessBudget 2017 (March)PubsSmall businessTravel & leisureFood & drinkLife and styleReal estateUK newsMon, 13 Mar 2017 18:34:39 GMThttp://www.theguardian.com/business/2017/mar/13/budget-pubs-philip-hammond-business-rates-discountPhotograph: Martin Rickett/PAPhotograph: Martin Rickett/PAKatie Allen2017-03-13T18:34:39ZPhilip Hammond criticised for exaggerating pub relief schemehttps://www.theguardian.com/business/2017/mar/09/philip-hammond-criticised-for-exaggerating-pub-relief-scheme
<p>Chancellor said in budget that 90% of pubs in England would benefit from business rates discount, but experts say that is ‘at best disingenuous’</p><p>The government has come under fire for claiming that 90% of pubs in England could benefit from a £1,000 business rates discount, with critics claiming that far fewer will actually receive the relief.</p><p>Philip Hammond announced in the budget on Wednesday that pubs with a rateable value of less than £100,000 would receive a £1,000 discount on their business rates bill this year. The chancellor said that 90% of all pubs had a rateable value of less than £100,000.</p><p> <span>Related: </span><a href="https://www.theguardian.com/business/2017/mar/09/southwold-welcome-town-business-rates-rise-177">Southwold: welcome to the town where business rates are set to rise 177%</a> </p> <a href="https://www.theguardian.com/business/2017/mar/09/philip-hammond-criticised-for-exaggerating-pub-relief-scheme">Continue reading...</a>Commercial propertyTravel & leisurePubsFood & drinkBusinessLife and styleSmall businessBudget 2017 (March)UK newsBudgetPhilip HammondPoliticsEconomic policyRetail industryTax and spendingThu, 09 Mar 2017 19:03:46 GMThttp://www.theguardian.com/business/2017/mar/09/philip-hammond-criticised-for-exaggerating-pub-relief-schemePhotograph: Alamy Stock PhotoPhotograph: Alamy Stock PhotoGraham Ruddick and Rob Davies2017-03-09T19:03:46ZSouthwold: welcome to the town where business rates are set to rise 177%https://www.theguardian.com/business/2017/mar/09/southwold-welcome-town-business-rates-rise-177
<p>The seaside town is to be the place worst hit by the government’s proposed business rate hike, but the locals aren’t taking it lying down</p><p>When shop owners in the seaside town of Southwold warn of the “tragic” and “catastrophic” consequences of steep increases in business rates, it is tempting to assume that their campaigning zeal might be nudging them towards hyperbole. But fuelling this powerful, coordinated local protest is a real, widely-shared fear that a projected increase of 177% in business rates could ruin the town permanently.</p><p>There was only muted relief among shop owners on Wednesday in response to the announcement by Philip Hammond <a href="https://www.theguardian.com/uk-news/2017/mar/08/business-rate-concerns-budget-2017-philip-hammond">of some interim softening of proposed rates rises</a>, which removed the immediate prospect of huge new bills from the small businesses along the high street. There was no celebration because the longer term threat to the survival of the town’s independent businesses has not been removed.</p><p> <span>Related: </span><a href="https://www.theguardian.com/business/nils-pratley-on-finance/2017/mar/08/philip-hammond-chancellor-business-rates-row-budget-2017">Hammond seems to be expecting business rates storm to just blow over</a> </p><p> <span>Related: </span><a href="https://www.theguardian.com/small-business-network/2017/mar/08/smes-are-the-biggest-losers-in-budget-2017">SMEs are the 'biggest losers' in budget 2017</a> </p> <a href="https://www.theguardian.com/business/2017/mar/09/southwold-welcome-town-business-rates-rise-177">Continue reading...</a>Small businessUK newsBudget 2017 (March)BusinessBudgetCommercial propertyReal estateTax and spendingPoliticsThu, 09 Mar 2017 08:00:31 GMThttp://www.theguardian.com/business/2017/mar/09/southwold-welcome-town-business-rates-rise-177Photograph: Martin Pope for the GuardianPhotograph: Martin Pope for the GuardianAmelia Gentleman2017-03-09T08:00:31Z